Understanding what you are buying, whether you are getting value for money and how the property can be redesigned for the way you wish to use it is a primary consideration. There are usually three compulsory consumer surveys carried out to comment on the presence of termites, the lead in the paintwork (“amiante”) and the presence or absence of asbestos (“saturnisme”). There are new laws for swimming pool owners which must now be equipped with safety equipment. For pools installed before 1st January 2004 owners will have until 1st January 2006 to install the necessary safety equipment or face a non-compliance fine of up to €45,000. A valuation is carried out by banks in most cases where a mortgage is required. The appraisal is not normally carried out by a qualified surveyor and cannot be relied on and in any event is not normally disclosed to the borrower. A buyer will need to instruct a qualified architect to advise on the adoption, modification, addition or structural soundness of the property in question. Once contracts are exchanged the buyer will be liable to complete at the agreed price unless appropriate conditions have been added into the contract.